Video Update

The yield curve is quietly steepening again. If it continues and accelerates that would be very good for Gold as it likely indicates more rate cuts ahead and a recession. On the other hand, if the Fed is able to pause for most of 2025 as the economy avoids recession, that would be bad for … Continue reading

The correction in Gold & Silver intensified this week and especially in miners and juniors. However, the stocks are now very oversold on short-term metrics.

Gold, Silver & miners started the week strong but reversed course hard. Gold reversed lower after briefly exceeding $2700 and the same for Silver at $32.50.

In real terms Silver is where it was in 1971. A secular bull market in precious metals will take Silver at least 10 times higher and potentially 20x higher.

Precious Metals are setup to move higher and diverge from the stock market when it endures its next bear market. History shows how this transpires at or near the beginning of secular bull markets.

The trends in Debt to GDP, Net Interest on the Debt and the budget deficit necessitate yield curve control and debt monetization in the next few years. This is the major game changing catalyst for Gold.

History shows Gold is the most uncorrelated asset, even more so than Bonds. Meanwhile, Bitcoin is the most correlated asset of all time, despite proclamations to the contrary.  

Gold against the 60/40 Portfolio shows how precious metals are performing against stocks and reflects capital flows. Money is moving out of Bonds and into Stocks first and Gold as a close second.

When Silver breaks $50/oz it will be the biggest breakout in the modern history of capital markets. We cover the implications and price targets.